Occidental Petroleum's (the parent company's) principal businesses constitute two industry segments: Oil & Gas and Chemicals. Occidental Chemical (OxyChem), a wholly owned subsidiary of Occidental Petroleum, is a major chemical manufacturer with interests in basic chemicals, vinyls, petrochemicals and speciality products.
The company is based in Dallas, Texas and has manufacturing facilities at 26 sites in the US and three elsewhere. OxyChem claims to be the largest manufacturer and marketer of basic chemicals, such as chlorine and caustic soda, and the largest producer of chrome chemicals in North America.
More specifically, OxyChem states that it is the world's leading producer of potassium hydroxide, chlorinated isocyanurate products and resorcinol; the world's largest marketer of ethylene dichloride (EDC); the world's second-largest producer of antimony oxide and mercaptan warning agents; and the number two US producer of phenolic moulding compounds and sodium silicates.
OxyChem is split into three segments: Basic Chemicals, Vinyls and Performance Chemicals.
Company movements
In October 2009, Occidental said that it has signed an agreement to purchase Phibro from Citigroup.
Occidental Chemical
Strategy & Financial Highlights
Occidental will remain focussed with maximising its profits and cash-flow from its core businesses, while making targeted investments to capture new opportunities for what it says is for 'profitable growth tomorrow'. (Edited from annual report). ICIS also provides you with key financial data listed in table form.
More about Occidental Chemical Strategy & Financial Highlights
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